What is a Cryptocurrency?

A cryptocurrency is a digital or virtual currency that uses cryptography for security. A cryptocurrency is difficult to counterfeit because of this security feature. A defining feature of a cryptocurrency, and arguably its most endearing allure, is its organic nature; it is not issued by any central authority, rendering it theoretically immune to government interference or manipulation.

“In 2014, the Internal Revenue Service (IRS) issued guidance to taxpayers (downloads as a pdf) making it clear that virtual currency will be treated as a capital asset, provided they are convertible into cash. In simple terms, this means that capital gains rules apply to any gains or losses. But taxes are rarely simple. Things can get complicated very quickly.”

SAGE Serendipity: On New Year’s Eve we gather with friends, make predictions for the year ahead, throw a dollar or two in the pot, and have fun reading them 365 days later. This year’s winner, Dominic Cupo! It’s not too late to do this with your friends and family. CNN has a “crystal ball” page with some great questions to get you started, or it’s just a fun read. Only one CNN expert predicted the Eagles in the Super Bowl. What?!?

With first-hand experience as a corporate executive, small-business owner and stay-at-home parent, Sheri is like a Swiss Army Knife: Her varied background has equipped her to help individuals and families cut through an array of financial complexities standing in the way of their most fulfilling lives.